Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Tesla Inc (NASDAQ:TSLA) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,552 shares of the electric vehicle producer’s stock, valued at approximately $1,904,000.
A number of other large investors have also modified their holdings of the business. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Tesla by 102.6% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,448,917 shares of the electric vehicle producer’s stock worth $349,001,000 after purchasing an additional 733,764 shares during the period. Nikko Asset Management Americas Inc. boosted its position in shares of Tesla by 45.4% in the third quarter. Nikko Asset Management Americas Inc. now owns 954,837 shares of the electric vehicle producer’s stock valued at $229,992,000 after acquiring an additional 298,142 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Tesla by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 378,664 shares of the electric vehicle producer’s stock valued at $158,407,000 after acquiring an additional 9,564 shares during the period. California Public Employees Retirement System boosted its position in shares of Tesla by 18.1% in the fourth quarter. California Public Employees Retirement System now owns 305,898 shares of the electric vehicle producer’s stock valued at $127,966,000 after acquiring an additional 46,900 shares during the period. Finally, Pictet Asset Management Ltd. boosted its position in shares of Tesla by 3.2% in the third quarter. Pictet Asset Management Ltd. now owns 272,019 shares of the electric vehicle producer’s stock valued at $65,521,000 after acquiring an additional 8,457 shares during the period. Hedge funds and other institutional investors own 47.36% of the company’s stock.
A number of equities analysts have recently commented on the stock. China Renaissance Securities lowered shares of Tesla from a “buy” rating to a “hold” rating and set a $346.00 price objective for the company. in a research report on Tuesday, November 26th. Roth Capital raised their price objective on shares of Tesla from $250.00 to $350.00 and gave the company a “sell” rating in a research report on Thursday, January 30th. Royal Bank of Canada restated a “sell” rating and issued a $530.00 price objective on shares of Tesla in a research report on Friday, February 7th. Robert W. Baird raised their price objective on shares of Tesla from $525.00 to $650.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, UBS Group set a $410.00 price objective on shares of Tesla and gave the company a “sell” rating in a research report on Friday, February 14th. Eighteen research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Tesla has a consensus rating of “Hold” and an average target price of $466.35.
In other Tesla news, Director Antonio J. Gracias sold 77,152 shares of Tesla stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $892.65, for a total transaction of $68,869,732.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jerome M. Guillen sold 2,000 shares of Tesla stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $329.40, for a total transaction of $658,800.00. Following the transaction, the insider now directly owns 10,973 shares in the company, valued at $3,614,506.20. The disclosure for this sale can be found here. Insiders have sold 85,602 shares of company stock worth $74,210,516 over the last three months. Insiders own 24.40% of the company’s stock.
Shares of TSLA opened at $833.79 on Tuesday. The firm’s 50 day simple moving average is $653.56 and its 200 day simple moving average is $384.16. The company has a market capitalization of $150.64 billion, a P/E ratio of -164.46, a P/E/G ratio of 9.80 and a beta of 0.50. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.13 and a quick ratio of 0.80. Tesla Inc has a 1-year low of $176.99 and a 1-year high of $968.99.
Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.34. The business had revenue of $7.38 billion for the quarter, compared to the consensus estimate of $7.05 billion. Tesla had a negative net margin of 3.51% and a negative return on equity of 13.07%. Tesla’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the firm posted $1.93 earnings per share. On average, equities analysts anticipate that Tesla Inc will post 2.31 earnings per share for the current year.
Tesla Profile
Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.
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